Sheikh Mohammed announces housing loan exemptions for low-income families

Decision follows Cabinet meeting by Dubai Ruler chaired at Expo 2020 on Monday

Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet approved the requirements and conditions to clear housing loans for Emiratis, a step that aims to enhance social stability and ensure an adequate standard of living for Emiratis.

The meeting, held at Expo 2020 Dubai, was attended by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance; Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

The Cabinet also approved the UAE National Medicine Policy seeks to promote and protect health and wellbeing. It aims at achieving equitable availability and affordability of essential medicines, ensuring the quality, safety and efficacy of all medicines.

The policy that involves all main actors in the pharmaceutical field, provides a framework within which the activities of the pharmaceutical sector can be coordinated. It encourages R&D in the sector including operational research, drug development and clinical research.

The policy also aims at increasing local production of medicine, while further improving the quality of medicine in the UAE, in addition to attracting and facilitating investments in the pharmaceutical sector.

The cabinet adopted the UAE cultural and creative industries strategy to maximize the sector participation to be among the top ten performing sectors in the national economy and to account for 5% of the GPD.

The strategy, the first of its kind in the Arab World,combines efforts of all key players of the sector, and adopts performance indicators to measure the progress achieved. The strategy aims at fulfilling the UAE aspirations to be a globally recognised centre of creative talents and a leading producer and exporter of creative and cultural content.

The three-layer strategy includes 40 initiatives that target three segments: talents, professionals and enablers business enablers.

Legislative Affairs

The Cabinet approved the issuance of a federal law regarding rehabilitation of juvenile delinquents and vulnerable to delinquents. The law aims at reintegrating this category into the community and turns them into empowered and safe children who are aware of their rights.